Ameritas Life Insurance Corp. has added a “no withdrawal charge” rider to the list of options available with the Overture Medley Variable Annuity contract.
UNIFI Mutual Holding Company, Lincoln, Neb., the parent of Ameritas, says the rider can reduce the withdrawal charge period to 0, from a standard period of 9 years.
The base contract insurance charge is 0.85%, with a maximum of 1.15%, or 1.50%, with a maximum of 2.25%, with the new no withdrawal charge rider.
Customers can buy the new rider along with the guaranteed lifetime withdrawal benefit rider, UNIFI says.
Ameritas is responsible for backing the product guarantees.